5 Entrepreneurs Share Their Secrets to Ecosystem Success
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According to a recent IDC study, Salesforce and its ecosystem of customers and partners will drive nearly 1.9 million new jobs and more than $389 billion in new GDP impact worldwide by the year 2020. Furthermore, the same study revealed that, for every dollar Salesforce makes, the company’s ecosystem will gain $4.14.
These numbers speak for themselves: leveraging the momentum of a growing ecosystem can mean big wins for the businesses within it. But perhaps even more impactful than the numbers are the stories told by the businesses themselves, which is why we’ve identified five companies who truly understand what it takes to be successful in an ecosystem and compiled their stories into an e-book. Check out the following five key areas in which these companies have learned how to leverage the ecosystem for swift innovation, limitless reach, and frictionless collaborative selling — not to mention some truly impressive results. And be sure to download the ebook for a closer look at their stories.
From the moment that you conceive of a product until long after it’s launched, innovation is a key component in any business plan. Ecosystems are breeding grounds for innovation (from early-stage brainstorming to gathering ideas for product improvements), and for the companies who know how to leverage the resources available to them, payoff can be huge.
Building a solution in an ecosystem requires that certain standards are met, and this accreditation is a huge advantage. By building on an established and trusted platform, a business instantly gains the credibility needed to open doors to customers of all sizes and across all industries — even those with household names.
Learn how CloudCraze leveraged the credibility of the ecosystem to add Fortune 100 companies to their customer base.
Much in the same way that ecosystems can open the doors to larger and more well-known brands, they can also help bring down geographical barriers. Businesses instantly have access to a massive audience of qualified customers, and even better, that audience is able to seek them out as well — allowing businesses to effortlessly access a global audience.
Learn how Sage People (formerly Fairsail) used the reach of an ecosystem secure customers across 20 countries with sales reps in only two.
Collaboration is key in helping everyone win — including your customer. With customers already using products that complement yours in an ecosystem they trust, there’s far less friction in the sales process and greater time to value for reps. Furthermore, ecosystems enable collaboration with other businesses that sell complementary products, increasing deal sizes and solving complex problems for your customers.
As any business owner knows, your work isn’t done once a deal closes. Businesses have to constantly adapt based on customer feedback, and ecosystems play a critical role in that process. With easy access to user feedback and expert training and advice, businesses can leverage ecosystems to keep constant tabs on customer preferences.